Alexandria Real Estate cuts 2025 FFO guidance; Q3 net loss of $234.9 million
Alexandria Real Estate Equities reported a third-quarter 2025 net loss attributable to common stockholders of $234.9 million, or $1.38 per diluted share, compared with net income of $164.7 million, or $0.96 per share, a year earlier. The company lowered the midpoint of its 2025 funds from operations (FFO) per share, as adjusted, guidance by 25 cents to $9.01, and cut its 2025 net loss per share guidance midpoint by $3.44 to $(2.94), which matters to shareholders because it reflects weaker expected operating results and larger asset write-downs.
Key points
- Q3 2025 net loss of $234.9 million, or $(1.38) per diluted share, versus net income of $164.7 million, or $0.96 per share, in Q3 2024.
- Q3 2025 FFO per share, as adjusted, of $2.22, down from $2.37 a year earlier; year-to-date FFO per share, as adjusted, was $6.85 versus $7.08.
- 2025 FFO per share, as adjusted, guidance midpoint lowered to $9.01 from $9.26, citing slower re-leasing and reduced life science demand.
- Year-to-date impairments of real estate of $485.6 million; potential additional 4Q25 impairments ranging from $0 to $685 million.
The filing
Written by AI on Nov 8, 2026, 12:57 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 27, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.